Andrew Torchia

DUBAI Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate's efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.

Iran is intervening in the foreign exchange market and threatening speculators to engineer a dramatic recovery of its rial currency, easing pressure on the oil-exporting economy as Tehran defies renewed U.S. sanctions.

DUBAI Prices for Dubai's residential real estate sank 7.4 percent in the third quarter of 2018 from a year earlier, with the drop accelerating from a 5.8 percent fall in the second quarter, the United Arab Emirates central bank said in a report on Tuesday.

DUBAI United Arab Emirates regulators said they would expand their recognition of investment fund licenses in an effort to persuade more funds to base themselves in the country, in the face of competition for the business from other states in the region.

World News

U.S. President Donald Trump said on Thursday it was time to back Israeli sovereignty over the Golan Heights that Israel seized from Syria in 1967, marking a dramatic shift in U.S. policy and giving a boost to Israeli Prime Minister Benjamin Netanyahu in the middle of his re-election campaign.

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